Aaron’s Holdings Company, Inc. (NYSE:PRG) Holdings Decreased by Ritholtz Wealth Management

Ritholtz Wealth Management reduced its stake in shares of Aaron’s Holdings Company, Inc. (NYSE:PRG) by 2.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,436 shares of the company’s stock after selling 494 shares during the quarter. Ritholtz Wealth Management’s holdings in Aaron’s were worth $517,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Aaron’s by 2.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,201 shares of the company’s stock worth $980,000 after acquiring an additional 446 shares in the last quarter. LPL Financial LLC raised its position in Aaron’s by 2.4% in the fourth quarter. LPL Financial LLC now owns 19,719 shares of the company’s stock worth $833,000 after acquiring an additional 458 shares in the last quarter. Comerica Bank raised its position in Aaron’s by 1.2% in the fourth quarter. Comerica Bank now owns 39,029 shares of the company’s stock worth $1,649,000 after acquiring an additional 473 shares in the last quarter. State of Wyoming raised its position in Aaron’s by 10.9% in the fourth quarter. State of Wyoming now owns 5,694 shares of the company’s stock worth $241,000 after acquiring an additional 560 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its position in Aaron’s by 141.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,208 shares of the company’s stock worth $51,000 after acquiring an additional 707 shares in the last quarter. 97.92% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PRG has been the topic of several research reports. KeyCorp dropped their price target on shares of Aaron’s from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Loop Capital dropped their price target on shares of Aaron’s from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Finally, Jefferies Financial Group cut shares of Aaron’s from a “buy” rating to a “hold” rating and dropped their price target for the stock from $58.00 to $29.00 in a research report on Wednesday, February 26th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $44.83.

Insider Buying and Selling at Aaron’s

In other Aaron’s news, CFO Brian Garner bought 3,500 shares of the stock in a transaction on Tuesday, May 13th. The shares were bought at an average price of $28.93 per share, with a total value of $101,255.00. Following the purchase, the chief financial officer now directly owns 132,597 shares in the company, valued at $3,836,031.21. The trade was a 2.71% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Steven A. Michaels bought 14,000 shares of the stock in a transaction on Monday, May 12th. The shares were acquired at an average cost of $29.03 per share, for a total transaction of $406,420.00. Following the purchase, the chief executive officer now owns 559,641 shares in the company, valued at approximately $16,246,378.23. This represents a 2.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 3.21% of the company’s stock.

Aaron’s Trading Down 2.1%

Shares of PRG opened at $27.87 on Friday. The business’s 50-day moving average price is $27.88 and its 200 day moving average price is $33.63. The stock has a market capitalization of $1.12 billion, a P/E ratio of 5.71 and a beta of 1.79. Aaron’s Holdings Company, Inc. has a 1-year low of $23.50 and a 1-year high of $50.28. The company has a current ratio of 4.98, a quick ratio of 2.35 and a debt-to-equity ratio of 0.91.

Aaron’s (NYSE:PRG) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.08. The firm had revenue of $684.09 million for the quarter, compared to analysts’ expectations of $678.23 million. Aaron’s had a return on equity of 23.11% and a net margin of 8.38%. Aaron’s’s revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the business posted $0.91 EPS. Analysts expect that Aaron’s Holdings Company, Inc. will post 3.45 earnings per share for the current year.

Aaron’s Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 20th were paid a dividend of $0.13 per share. The ex-dividend date was Tuesday, May 20th. This represents a $0.52 annualized dividend and a yield of 1.87%. Aaron’s’s dividend payout ratio (DPR) is presently 10.66%.

About Aaron’s

PROG Holdings, Inc (NYSE:PRG) is a financial technology holding company based in Salt Lake City, Utah with three business segments: Progressive Leasing, which offers lease-to-own transactions primarily to credit-challenged consumers through e-commerce and point-of-sale retail partners, via online, mobile, and in-store solutions; Vive Financial, which provides consumers who may not qualify for traditional prime lending with a variety of second-look, revolving credit products through private label and branded credit cards; and Four Technologies, which provides consumers of all credit backgrounds Buy Now, Pay Later (BNPL) options through four interest-free installments via its platform, Four.